Daily Archives: March 15, 2017

At its meeting tonight, the Berkeley City Council will consider the implications of severing ties with Wells Fargo, the megabank that has been ensnarled in controversy over both its business practices and investment in the Dakota Access Pipeline.

A Finance Department report on the agenda tonight says it is “necessary” for the city to continue banking with Wells Fargo for the next three years as staff consider other options, but suggests individual services that could be switched over to another provider in the meantime.

According to former Los Angeles area Wells Fargo employees, the paperwork delays that prompted the fees were usually the bank’s fault, but management forced the employees to blame the customer for the delays. These fees could run between $1,000 to $1,500 or more, reportedly adding up to millions of dollars in the Los Angeles area alone.

WASHINGTON–The White House announced nominations for six top posts at the Treasury Department on Tuesday, including a senior Goldman Sachs Group Inc. private banker as the agency’s No. 2 official.

James Donovan, who is also an adjunct professor at the University of Virginia School of Law, will be nominated as the deputy to Treasury Secretary Steven Mnuchin, who is also an alumnus of the New York investment bank.

Mr. Trump will nominate former Bear Stearns Chief Economist David Malpass as the department’s undersecretary for international affairs and economist Adam Lerrick as deputy undersecretary for international finance. Sigal Mandelker, a former Justice Department official, was nominated as undersecretary for terrorism and financial intelligence.